Saudi-Based Game Studio UMX Raises $4.5 Million All-Cash Investment

Saudi-based game studio UMX has secured a $4.5 million all-cash investment from Jetapult, a global strategic gaming investment firm backed by Accel Partners and headquartered in India. This marks Jetapult’s first investment in the MENA region, with plans to expand into Southeast Asia and Europe.

In addition to acquiring equity, Jetapult will provide capital to help UMX expand its portfolio, grow its global audience, and explore new game genres. Jetapult’s team of gaming experts will support UMX in user acquisition, monetization, and the integration of advanced analytics and AI through their ‘Invest & Operate’ (I&O) model.

Founded by Ali Alharbi in 2014, UMX is one of Saudi Arabia’s pioneering game development studios, known for creating high-quality mobile games. The studio has garnered over 70 million downloads and continues to see consistent growth, with its games frequently topping the Apple and Google charts in the region.

This investment comes amid the rapid growth of the gaming and esports sector in the MENA region, where Saudi Arabia accounts for 39% of the Middle East’s gaming revenue and stands as the fastest-growing market, according to Sensor Tower in 2024.